| Program | Met-Ed / Penelec Sustainable Energy Fund |
|---|---|
| Category | Financial Incentive |
| Implementing sector | Local |
| Last Update | |
| State | Pennsylvania |
| Administrator | Berks County Community Foundation |
| Website | https://bccf.org/overview-sustainable-energy-funds/ |
| Technologies | Solar - Passive, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Solar Photovoltaics |
FirstEnergy (formerly GPU) established the Metropolitan Edison Company (Met-Ed) Sustainable Energy Fund in 2000 with an initial contribution of $5.7 million. The fund later received an additional contribution of $2.5 million as a result of the merger between GPU Energy and FirstEnergy, bringing the total to $8.2 million. The fund is administered by the Berks County Community Foundation. The majority of funding available from the Metropolitan Edison Company SEF takes the form of investments made in businesses pursuing one or more of the fund's objectives. These funds typically will be distributed as loans or equity investments, but a limited number of grants are available each year for specific purposes.
The fund has since joined and share an advising committee with the Pennsylvania Electric Company Sustainable Energy Fund. They are commonly referred to as Met-Ed/ Penelec Sustainable Energy Fund.
Since inception, the Met-Ed/Penelec SEF has approved 213 grants totaling $4,139,373; 47 loans totaling $24,488,724; and 3 equity investments totaling $1,600,000.
Grant Opportunities include:
- A grant of up to $240,000 to support an applied research and development project in the areas served by the Met-Ed and Penelec electric companies.
- A grant of up to $230,000 to support the construction of a green, sustainable, and/or natural building or the renovation of an existing building using these energy efficiency principles in the areas served by Met-Ed and Penelec.
The Met-Ed / Penelec Sustainable Energy Fund provides grants, loans, and equity investments to promote:
- The development and use of renewable energy and clean energy technologies
- Energy conservation and efficiency
- Sustainable energy businesses
- Projects that improve the environment in the companies’ service territories, as defined by their relationship to the companies’ transmission and distribution facilities
Examples of projects funded in the past are available on the program web site, along with details of the grant guidelines.
Add new comment